AMC Theatres parent Dalian Wanda to buy studio Legendary for $3.5 billion

Dalian Wanda Group Co., the Chinese conglomerate that owns Leawood, Kan.-based cinema company AMC Entertainment Holdings Inc., is expanding its footprint in the movie industry with the $3.5 billion acquisition of Legendary Entertainment, a Burbank, Calif., film studio.

The deal would make Wang Jianlin, the Chinese billionaire who has a controlling stake in the Wanda Group, the first Chinese person to own a Hollywood film company.

The purchase adds to a growing global entertainment portfolio for the Wanda Group, whose holdings also include Infront Sports & Media AG and a stake in Spanish soccer club Atletico de Madrid.

The acquisition of Legendary, which produced The “Dark Knight” Batman trilogy and “Godzilla,” also indirectly involves the Asian parent company of another Kansas City-area corporation: In 2014, the film studio raised $250 million from Tokyo-based SoftBank Group Corp., which owns Sprint.

Read more: Bloomberg

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